If you have recently added your teen driver to your auto insurance policy, you know what a difference it meant for your premiums. If your teen is getting their license soon, get your wallet ready. The cost to add your teenager to your auto insurance policy can more than double your auto insurance rates each year.

The reason that you will see a huge increase in your premiums is that insurance companies rate teen drivers as some of the riskiest drivers on the road.According to the Centers for Disease Control and Prevention, the crash rate per mile driven for 16 to 19 year olds is four times higher than the same risk for older drivers. Teen drivers who are 16 years old are the riskiest drivers, and have a crash rate of two times higher than teens 18 to 19 yearsof age.

One study compared auto insurance rates from 10 different cities in each state on a 2014 Honda Accord. The study quoted auto insurance rates from a 40 year old male investing in full coverage, and then the same policy for a 16 year old male. The study showed that on average, the auto insurance premiums rose 152 percent across the country. By adding a teenage girl to the policy instead of a boy, the rates only rose, on average, 129 percent.

When looking for the right auto insurance policy for your family,contactThe Insurance Shop in White Bear Lake, Minnesota. As an independent insurance company, we will work with you to ensure that you have the right amount of coverage, all at the right price.